Former President John Dramani Mahama has reiterated his commitment to maintaining fiscal discipline as Ghana prepares to exit the International Monetary Fund (IMF) programme by 2026. Speaking at the 9th Ghana CEO Summit on Monday, May 26, under the theme “Transforming Business and Governance for a Sustainable Futuristic Economy,” Mahama emphasized the importance of responsible…
Inflation in Ghana is expected to decline from an average of 22.9% in 2024 to 18.8% in 2025, according to a new forecast by Fitch Solutions. The UK-based research firm attributes this moderation to falling global oil prices, which are likely to give the National Petroleum Authority room to limit increases in, or even reduce,…
Banks to Hold Reserves in Original Deposit Currencies Starting June Effective June 5, 2025, commercial banks operating in Ghana will be required to maintain cash reserves in the same currency as the deposits they receive. This marks a significant shift in the Bank of Ghana’s (BoG) policy framework, as it revises the Dynamic Cash Reserve…
The Bank of Ghana has decided to keep its policy rate unchanged at 28%, as part of ongoing efforts to contain inflationary pressures. This decision was announced by Governor Dr. Johnson Asiama during a media briefing following a meeting of the Bank’s Monetary Policy Committee (MPC). Dr. Asiama explained that the central bank’s latest assessments…
Just days after being cleared from unauthorized trading spots, some traders in Accra’s Central Business District have returned to the pavements, defying the Accra Metropolitan Assembly’s (AMA) directives aimed at decongesting the city. The traders, citing economic hardship and the absence of alternative sources of income, say they have no choice but to resume their…
Tullow Ghana and its partners have officially restarted drilling operations in the Jubilee Field, ushering in a new phase of investment in Ghana’s vital energy sector. The two-year drilling programme, which kicks off in May 2025, aims to enhance oil production and operational efficiency in one of West Africa’s most prominent oil fields. This new…
President John Dramani Mahama has confirmed that his administration inherited $8.98 billion in foreign reserves from the previous government, bringing clarity to a long-standing debate over the actual amount handed over during the transition. The issue had sparked public discussion, with officials from both the current and former administrations presenting conflicting figures regarding the state…
The Accra Metropolitan Assembly (AMA) has commenced a large-scale decongestion operation targeting street trading activities within Accra’s Central Business District (CBD), as part of efforts to restore order and improve sanitation in the city centre. In the early hours of Tuesday, May 20, 2025, AMA task forces, in collaboration with personnel from the Ghana Police…
The Food and Drugs Authority (FDA) is grappling with major enforcement difficulties in removing the banned Grand Chateaux Sangria Forte from the Ghanaian market, despite a nationwide recall issued two months ago. In a statement on March 18, 2025, the FDA ordered the recall of the 250ml Sangria Tetra Pack, citing safety concerns. However, the…
President John Dramani Mahama has announced that feasibility studies are currently underway for the establishment of a new national capital, aimed at addressing the growing challenges posed by rapid urbanisation, traffic congestion, and overstretched infrastructure in Accra. Speaking at a durbar of chiefs and residents in Dodowa during his ‘Thank You’ tour last Friday, the…
